Management analysts, or management consultants, help keep businesses competitive in these challenging economic times. These professionals may be brought in from outside the given company or be employed by the company in-house. The management analyst helps to improve a company's structure, operations, and efficiency. He or she may train the firm's personnel in certain fields, propose strategic planning to senior management, analyze the firm's structure in order to discern and rectify any anomalies, and advise management with the aim of improving different functional areas like marketing, logistics, or financial control.
Management analysts can operate independently or be part of a larger corporation employing other consultants. The work of the management consultant depends on the fields in which he has specialized. He or she may have specialized in a specific field like health or telecommunications, or in certain business functions like information systems or human resources. His or her work may vary from client to client and project to project. Some assignments can be performed by a single analyst, while others require a team of professional consultants in order to get done. In all scenarios, management analysts work with the managers of the given organization. The consultants and analysts review the information provided and make feasible recommendations for the organization to implement.
Management analyst jobs are usually open in both public and private companies. The companies use management consultants for various reasons. Some may not have the internal capacity to handle an internal problem, while others may need an expert view from a consultant to pinpoint what resources would be needed to solve a specific problem.
Before hiring a consultant, a firm first asks for proposals from different consulting firms which offer the services that it requires. It then looks at the project's overall costs, the scope of the project to be undertaken, references from former clients, and any requirements for staffing. The proposal that best suits the company is then selected.
When a contract has been awarded to a management analyst, he or she has to review and define the extent of the problem that the firm is faced with. At this stage, he or she may analyze the firm's data by interviewing both managers and other employees. The consultant should also be keen to see how operations are carried out in the firm. After gathering this information, the management consultant then formulates solutions to the problem. He or she should take into account the organization of the firm, its relationship with other firms, and its place in the industry while making his recommendations.
After getting his findings and the proposed solutions, the management analyst then submits his findings to the management of the firm. He may make his recommendations in oral or written form. At this point, the management of the firm will decide whether to implement the recommendations of the analyst or to follow alternative routes to solving the problem. The analyst should be available during implementation to suggest further improvements or alterations in the solutions model that he has suggested.
Consulting jobs in government agencies require the same skills as those in private agencies. The management consultant will try to improve the efficiency of the agency by cutting down on costs and improper spending. The consultant's suggestions on cost-cutting initiatives should be implemented by the government agency in order to reduce losses.
Education and Other Qualifications
The educational qualifications for entry into consulting jobs vary among government and private companies. Most employers in private companies usually seek individuals with a master's degree in business administration or a related field. They may also require the candidate to have had several years of experience in the field that the individual is applying to work in. In other firms, individuals with a master's degree are usually hired as associates or research analysts and are later promoted to consultants after a number of years.
Other Qualifications
Consulting jobs also require one to be independent, self-motivated, and disciplined. Good interpersonal skills, excellent written and oral communication skills, and strong analytical skills are a prerequisite in the management analyst jobs industry. As consulting teams are becoming more common, management analyst job seekers will find that the ability to work well in teams is also helpful.
Advancement
As one gains experience in consulting, he may be put in charge of a team of upcoming consultants. Others may find themselves looking for larger and more complex projects from much bigger clients. With time, one may be made a partner in a consulting firm, and those who opt out to start their own ventures may become successful entrepreneurs because of the wide customer bases that they will have built during their consulting years.
Most consulting jobs are sole proprietorships because the starting overhead is usually low. There is a huge market base for management analyst jobs due to the large number of small businesses that are started every year. A management consultant wishing to start his own firm must have good organizational skills, proper marketing strategies, and an established client base in order to be successful in the first year of operation. Experience in management consulting is also key to the success of the new consulting company.
Certification
In the United States, management analysts may get certification from the Institute of Management Consultants USA, Inc. if they meet the minimum education levels and experience. The institute accords a consultant a Certified Management Consultant (CMC) certification after he successfully passes an interview and examination that covers its code of ethics. Management consultants having a CMC are required to be recertified after every three years. Although certification is not compulsory for management consultants, it is helpful because it may accord a job seeker an advantage over other candidates.
Conclusion
Consulting jobs are available and can be a lucrative venture for those who are qualified. Experience also determines how successful one will be.
